The bottom line is that the customer experience continues to be validated as a significant indicator of a company’s success or failure. These seven factors are key components for describing how well the company’s culture is tuned to their customers.
One of the basic assumptions that have been considered sacrosanct is high levels of customer satisfaction lead to increased market share. Some recent research suggests that there this assumption may not be universally true.
Most companies involved in retail or commercial sales are always looking for customer loyalty. It seems that companies often forget there is another side to loyalty. The other side of the relationship is being loyal to your customers.
The WP Carey School of Business at Arizona State University has published the 2013 update of the customer rage study. The 2013 version is the sixth study wave. A general conclusion from the study is that if a company handles a complaint well, the customer is more likely to become loyal.
True loyalty programs are built on the basis of establishing a long-term positive relationship between the company and the customer and is not accomplished with a single “deal” or even multiple “deals.”
There have been a number of articles written regarding loyalty as if it were a black-and-white topic. The authors have made loyalty appear to be a term something like pregnancy. You’re either pregnant or you’re not.
There has been some interesting research completed recently which needs to be reported. One of the key findings was that the most important factor in getting customers to return to your site or company or business was identified as “decision simplicity.”
There is a general rule in the market that customers will generally only offer feedback when they either have a really bad experience or great one. If you believe that customers rarely say a word when their experience falls somewhere in the middle you are missing some valuable information.
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